AMENDMENT NUMBER 2 TO THE

                                                                   EXHIBIT 10.36

                            AMENDMENT NUMBER 2 TO THE

     AUTOMATIC FLEXIBLE PREMIUM VARIABLE LIFE REINSURANCE AGREEMENT NUMBER 3
                         (REFERRED TO AS THE AGREEMENT)

                                     BETWEEN

                   WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO
                             ST. PETERSBURG, FLORIDA
                         (REFERRED TO AS THE REINSURED)

                                       AND

                       WMA LIFE INSURANCE COMPANY LIMITED
                                XXXXXXXX, BERMUDA
                         (REFERRED TO AS THE REINSURER)


I.       The Reinsurer, WMA LIFE INSURANCE COMPANY LIMITED, has changed its name
         to "GLOBAL PREFERRED RE LIMITED" effective as of September 18, 2001.

II.      Exhibit A, PRODUCER, is replaced by the following effective as of June
         1, 2001:

         Flexible Premium Variable Life policies, applicable riders, and
         endorsements must be sold by and distributed through:

         -        WMA Securities, Inc. (and/or its successors) and its
                  affiliates

         -        World Financial Group, Inc. (and/or its successors)

         -        World Group Securities, Inc. (and/or its successors)

Except as expressed herein, all terms, covenants and provisions of the Automatic
Flexible Premium Variable Life Reinsurance Agreement Number 3, as amended, that
are not in conflict with the provisions of this amendment shall remain unaltered
and in full force and effect.

In witness of the above, the Reinsured and the Reinsurer, by their respective
officers have executed this amendment in duplicate at the dates and places
indicated.

WESTERN RESERVE LIFE ASSURANCE            GLOBAL PREFERRED RE LIMITED
CO. OF OHIO



at St. Petersburg, FL                     at Duluth, Georgia
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on December 31, 2001                      on December 31, 2001
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By: /s/ Xxxxx Xxxxxxxx                    By: /s/ Xxxxxx X. XxXxxxxx
   -----------------------------             ----------------------------------
Title: VP and Managing Actuary            Title: President and Actuary



By: /s/ ILLEGIBLE                         By: /s/ Xxxxxx X. XxXxxxx
   -----------------------------             ----------------------------------
Attest:                                   Attest: Director, Financial Projects